Cash is a good way to get clobbered for taxes! For many years, small restaurants, bars, pizza parlors, ice cream stands, and other food establishments have used all cash systems to hide their income and not pay sales tax and income tax on the full receipts. In New...
RS LETTER 5043 – NEW WAY IRS ATTACKS SMALL BUSINESS ATTEMPT TO GET “CASH” BUSINESSES The IRS has been pushing for many years to capture cash income of small businesses and force him to pay taxes. That is one of the reasons that the IRS is requiring credit card...
(see Cat.com) Once again, Congress is focusing on businesses that have used smart planning in order to avoid the excessive US corporate and personal tax rates as well as the extremely complex compliance costs. Instead of focusing on how to lower US taxes and make tax...
LAURYN HILL IS OUT OF JAIL, BUT THE IRS KEEPS HOUNDING Singer songwriter Lauryn Hill was thrown into jail for 3 months for tax evasion, with another 3 months of home confinement. This is all based upon her following some scheme by phony tax advisors claiming that she...
Are you Married for Tax Purposes? You are married for tax purposes as of December 31. So, if you were married on or before December 31, 2013, you would be single (or head of household depending upon the circumstances for the 2012 tax year, but you would be Married...
Scam IRS Calls! I am getting many calls from clients and potential clients saying the are getting calls from the “IRS” and are given strange numbers to call. These are scam telephone calls trying to get personal information such as social security numbers, dates of...
Once again, New Jersey is being unnecessarily dragged through the mud. First, the unfounded attacks against Gov. Christie. Then, not correctly attributing the SuperBowl to the correct State (the Meadowlands is in NJ, not NY), and now Rob Andrews is getting the...
NJ Division of Taxation seizes Melange Cafe Holidays in Haddonfield are Dreary without Melange @ Haddonfield As the holidays approach us, we renew our quest for a delicious meal that awakens the palate served in a relaxing atmosphere far removed from the hustle and...
Freddie Mitchell Dropped The Ball and the IRS Catches him My daughter is an avid, ahem rabid, Eagles fan. At 5 ft, barely 2 inches, she can go head to head with the big guys and knows football inside and out. Me? I hate football. I don’t get why people love such...
Expiring in 2013 The tax credit for Research and Development (R&D) is set to expire in 2013. Even if you are not a tech company, this credit could apply to your business. New processes and developments could count toward this credit. Check with a qualified tax...